Erste Asset Management GmbH Raises Holdings in Bath & Body Works, Inc. $BBWI

Erste Asset Management GmbH boosted its position in Bath & Body Works, Inc. (NYSE:BBWI) by 20.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,519,591 shares of the company’s stock after acquiring an additional 419,219 shares during the quarter. Erste Asset Management GmbH owned 1.22% of Bath & Body Works worth $65,660,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BBWI. Retirement Systems of Alabama increased its position in Bath & Body Works by 40.6% during the 3rd quarter. Retirement Systems of Alabama now owns 772,324 shares of the company’s stock worth $19,895,000 after purchasing an additional 223,089 shares in the last quarter. Summit Investment Advisors Inc. purchased a new stake in Bath & Body Works during the first quarter worth approximately $1,292,000. Allianz Asset Management GmbH grew its stake in Bath & Body Works by 58.8% during the third quarter. Allianz Asset Management GmbH now owns 263,628 shares of the company’s stock worth $6,791,000 after buying an additional 97,640 shares during the period. Diamond Hill Capital Management Inc. increased its position in shares of Bath & Body Works by 29.9% in the third quarter. Diamond Hill Capital Management Inc. now owns 369,452 shares of the company’s stock worth $9,517,000 after acquiring an additional 85,000 shares in the last quarter. Finally, Intech Investment Management LLC increased its position in shares of Bath & Body Works by 53.5% in the second quarter. Intech Investment Management LLC now owns 58,460 shares of the company’s stock worth $1,751,000 after acquiring an additional 20,381 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Bath & Body Works Price Performance

Shares of Bath & Body Works stock opened at $23.32 on Friday. Bath & Body Works, Inc. has a 1-year low of $14.27 and a 1-year high of $38.28. The company has a market capitalization of $4.77 billion, a PE ratio of 7.18, a P/E/G ratio of 1.00 and a beta of 1.54. The business has a 50-day moving average of $22.07 and a 200-day moving average of $23.79.

Bath & Body Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 20th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, February 20th. This represents a $0.80 annualized dividend and a yield of 3.4%. Bath & Body Works’s payout ratio is currently 24.62%.

Analyst Upgrades and Downgrades

BBWI has been the topic of several recent research reports. Citigroup lowered shares of Bath & Body Works from a “buy” rating to a “neutral” rating and lifted their target price for the company from $21.00 to $25.00 in a report on Tuesday, February 17th. Weiss Ratings reissued a “hold (c-)” rating on shares of Bath & Body Works in a research report on Wednesday, January 21st. Bank of America set a $26.00 target price on Bath & Body Works in a research report on Monday, November 24th. Deutsche Bank Aktiengesellschaft began coverage on Bath & Body Works in a research note on Thursday, January 8th. They issued a “hold” rating and a $21.00 target price for the company. Finally, Wells Fargo & Company dropped their target price on Bath & Body Works from $33.00 to $25.00 and set an “overweight” rating on the stock in a report on Friday, November 21st. Three equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $23.29.

About Bath & Body Works

Bath & Body Works, Inc is a leading specialty retailer focused on personal care, home fragrance and complementary products. Through its flagship Bath & Body Works brand, the company offers a diverse assortment of shower gels, lotions, fragrance mists, candles and home fragrance items. Its product portfolio also includes the White Barn Candle Co range of premium scented candles and diffusers. Bath & Body Works serves consumers through a combination of brick-and-mortar stores and e-commerce platforms, delivering seasonal collections, limited-edition releases and signature scent lines.

Founded in 1990 as part of Limited Brands (now L Brands), Bath & Body Works opened its first store in New Albany, Ohio, and quickly expanded across the United States.